VP, Loss Mitigation

About the role

Position Summary Responsible for executing the build out of the Loss Mitigation Department including, implementation of new processes, improving and updating procedures, tracking and implementing changes as released by investors, insurers, regulatory and legislative bodies. Oversees and manages the daily administration of loans in Loss Mitigation. Manages relationships with key vendors, as well as internal business partners. Provides training and mentorship as needed. Directly and indirectly manages staff with the goal of enhancing professional development and personal growth. Ensures the performance of all duties in accordance with the company’s policies and procedures, all U.S. state and federal laws and regulations, wherein the company operates.

About LoanDepot loanDepot (NYSE: LDI) is a digital commerce company committed to serving its customers throughout the home ownership journey. Since its launch in 2010, loanDepot has revolutionized the mortgage industry with a digital-first approach that makes it easier, faster, and less stressful to purchase or refinance a home. Today, loanDepot enables customers to achieve the American dream of homeownership through a broad suite of lending and real estate services that simplify one of life's most complex transactions. With headquarters in Southern California and offices nationwide, loanDepot is committed to serving the communities in which its team lives and works through a variety of local, regional, and national philanthropic efforts.

Responsibilities

• Manages Default Operations overseeing all areas of Loss Mitigation.
• Creates/updates Policies and procedures while monitoring changes in statutory, regulatory, investor and insurer guidelines and requirements.
• Implements and manages performance metrics of assigned portfolio and exception reports.
• Develops internal communication channels to ensure change management processes are developed and adhered to.
• Tracks multiple on-going projects simultaneously and assists in managing the company finances; identify ways to decrease costs.
• Maintains communication with all business units and provides timely recognition and review of items that must be escalated to legal and proper departments.
• Monitors monthly, weekly and daily exception reports to ensure accuracy of production.
• Supervision of Outsourcer(s) and staff on issues relating to areas of responsibility, servicing systems, processes and procedures; including maintaining accurate records and reports.
• Researches and responds to investor and regulatory audit requests.
• Administers changes in investor, insurer, legislative and regulatory bodies and implements effective change management to ensure compliance.
• Strives to achieve the highest net recovery possible for liquidated loans by minimizing the expense of management, insuring effective timeline management and disposition of Assets.
• Provides training and guidance of staff to expand knowledge of job functions and maintains a system of review to ensure accuracy and strengthen performance.
• Conducts oversight of Outsource Asset Management vendors by using effective measurement of metrics and develops Vendor scorecards.
• Participates in development, or implementation, of technology for use in areas of responsibility to manage and create efficiencies to reduce and control costs.
• Researches and resolves global and loan level issues.
• Provide opportunities for learning and growth to staff, ensures adequate and proper staffing; implements and manages employee performance evaluations.
• Performs other duties and projects as assigned.

Requirements

• Bachelor’s Degree, and/or extensive experience in Loss Mitigation.
• Minimum of ten (10) + years’ experience in the Mortgage Servicing industry.
• Minimum of ten (10) + years’ experience in administration and servicing loans in Foreclosure, Bankruptcy and Real-estate owned.
• Minimum of ten (10) + years’ experience and shown proficiency in Black Knight Financial Services (MSP/BKFS) servicing system.
• Experience with Federal and State regulations related to Mortgage Servicing.
• Experience with investor and insurer guidelines related to FNMA, FHLMC, GNMA, VA, FHA and USDA.
• Management or supervisory experience of a staff with diverse work skills.

Benefits

• Aggressive compensation package based on experience and skill